Fun Coffee Crypto Scam Collapses with $104M in Reported Losses
Hong Kong police have been investigating a cryptocurrency investment scam known as Fun Coffee, which promised investors annual returns of up to 278% through USDT-based investment plans. The platform, which claimed to be based in Vietnam and had offices in Hong Kong, stopped operating on July 20, 2026, leaving behind over HK$104 million in reported losses.
According to police, the scam relied on a multi-level commission structure that rewarded participants for bringing in new investors. The platform offered various investment packages with different deposit periods and promised returns ranging from 197% to 278%. One package required users to deposit around 10,800 USDT (worth roughly HK$84,000) for 10 days in exchange for about 680 USDT in profit.
The investigation has led to the arrest of six people in Hong Kong and two suspects in Macau. Police are continuing to identify additional victims as more reports are submitted. The case follows a series of crypto fraud warnings from Hong Kong regulators, who have tightened oversight on digital asset scams.